COVID-19 Impacts: Signify Suspends and Infineon Withdraws Fiscal 2020 Outlook

More companies published their response to the impacts resulted by coronavirus pandemic. Signify announced several measures of the company including suspending its fiscal 2020 outlook postponing Capital Market Day. Infineon Technologies reported withdrawal of its business outlook of fiscal 2020.


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Signify said that it has taken considerable action focused on the health and safety of its employees, on customer engagement and supply chain continuity and on free cash flow generation and operating expenses. The company also decided to suspend its financial outlook for 2020 which was announced in the end of January due to the uncertain global situation and limited understanding about how the epidemic may develop.

Meanwhile, the company decided to withdraw the proposal to pay a dividend of EUR 1.35 per share to ensure resilience during this period of market uncertainty and to further strengthen the company’s financial position.

Signify also announced the postponement of its Capital Markets Day, scheduled on June 18, 2020 in London. But its Annual General Meeting of Shareholders (AGM) will take place as planned on May 19, 2020.

On the other hand, German semiconductor technology solution provider Infineon has withdrawn its outlook for the fiscal year 2020. The company had anticipated an on-year growth of 5% (plus or minus 2 percentage points). However, the impact of the coronavirus pandemic can result in a deviation from this expectation and can lead to a noticeable decline in revenue compared to the last fiscal year.

Infineon also noted that it cannot reliably assess or quantified the specific implications on sales and earnings for the 2020 fiscal year given the uncertainty regarding the severity and the length of the pandemic’s economic impact.

For the current quarter ending on 31 March, revenue is expected to come in around the lower end of the guided range. The company also expects that the second half of fiscal 2020 will be impacted by the declines of the end markets targeted by Infineon including the automotive market and industrial applications.

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